When Twitter users decided that Sarah Palin was not, as she implied, the equivalent to a modern-day Shakespeare, they dutifully gave this term to describe what she probably didn't intend to describe.

Being when you make a mistake, use a word that doesn't exist, then try to claim that English is a "living language" where making up words is all good. It's not, really. We already have lots of really good words. Refudiate isn't one of them.